Palace justifies hike in Arroyo’s assets
Do not make a fuss out of President Gloria Macapagal-Arroyo’s wealth, Malacañang told critics Saturday, as it justified the P79-million increase in her assets.
Presidential Spokesperson Ricardo Saludo hit Mrs. Arroyo’s critics for the latest demolition job against the outgoing President.
“Critics trying to stir controversy over the President's statement of assets and liabilities should consult a financial analyst, the increase in wealth since 2001 amounts to about nine percent a year compounded, not much different than the money market interest rate and below the stock market index, which tripled since 2001 or about 15 percent average annual increase,” he explained.
According to Mrs. Arroyo’s Statements of Assets and Liabilities and Net Worth (SALN) filed at the Office of the Ombudsman, her net worth increased by P79 million from P66.7 million since she assumed office in 2001.
“Hence, P66 million assets in January 2001 can grow P79 million in nine years just be investments. Let's not blow this up,” Saludo said.
The 2009 SALN also showed that as of Dec. last year, the President’s stocks pegged at P71.3 million, while her notes receivables amounted to P13.8 million.
Mrs. Arroyo’s jewelry is currently valued at P3.4 million, which is P2.2-million increase from 2001.
The value of her real properties increased to P5.6 million, which is P2.1-million jump from P3.5 million in 2001. The President has an agricultural lot in Nasugbu, Batangas; a commercial lot in Tayabas, Quezon; a house and lot in Baguio and a residential lot in Antipolo. According to her SALN, she also owns a P2 million-worth of raw land in Coron, Palawan and a more than half a million worth of fish pond in Malolos, Bulacan.




